Wednesday 3 March 2021

About 29,000 small businesses disappeared in one year

QCOSTARICA – About 29,000 microenterprises disappeared in 2019, according to the latest figures by the National Institute of Statistics and Census of Costa Rica (INEC).

There are now some 367,911 microentreprises, small businesses that employ a small number of employees, usually fewer than 10 people, 7.3% less compared to the 396,796 reported the previous year.

- Advertisement -

Another decrease occurs in the employment generated, going from 678,938 in 2019 – including the owner of the activity – to 585,426 in 2020, which represents a reduction of 13.8%

The main challenges of most of these small businsses are access to loans, access to training, simpler procedures in State institutions, and diversifying products or services.

This even despite the fact that 200,536 microentrepreneurs received some support due to Covid-19; for example, half of them received at least one government bonus check.

But that does not ignore the fact that 91.6% of microenterprises have not received any type of support, either because they have not requested it or it has not been provided.

- Advertisement -

Of the existing microenterprises, the highest participation is in services (41.8%), followed by the industrial sector (21.3%), the commerce sector (20.9%) and finally the agricultural sector (16 %).

In services, the area where the most businesses are found is in food and transportation services.

Though the Covid-19 pandemic hit hard the small business sector, it also triggered the creation of 22,592 micro-businesses, made up of one person mostly, derived from the need for income.

And it seems that, at least from the intention, these would not be temporary, since of all the microentrepreneurs, 96 out of 100, plan to continue with their business in their current activity.

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of online magazines where everything is Q! In these times of new normal, stay at home. Stay safe. Stay healthy.

Related Articles

Tamarindo and Sámara received recognition for Tsunami preparedness

QCOSTARICA - For their preparedness to face tsunamis, the communities of...

Costa Rica Celebrates 200th This Year

QCOSTARICA - This year Costa Rica celebrates 200 years of independent...


50 years ago the San Carlos River was crossed by ferry and these were the rates

TODAY COSTA RICA - Before the Office of the Comptroller General (CGR), the rate agreed by the Municipality of the canton of San Carlos...

Panasonic will invest US$10 M to move operations from Asia to Costa Rica

QCOSTARICA - Panasonic announced that it will invest US$10 million dollars in the expansion of its plant in Costa Rica, in order to move...

Discovery Channel began filming the second season of “Reversed” in Costa Rica

The filming of the second season of the reality show “ReverseD” on the Discovery Channel officially began last Sunday, February 21, in Atenas, in...

In a week, Costa Rica off and on the list of risk countries in Spain for covid-19

QCOSTARICA - Spain had excluded Costa Rica from the list of risk countries to enter by air for presenting a negative covid-19 test (RT-PCR,...

The race to replace Carlos Alvarado in 2022

QCOSTARICA  - Twenty eight Costa Rican's are lining up who want the position that Carlos Alvarado when he leaves office on May 8, 2022,...

Today Costa Rica wakes up to an increase in fuel prices, the third this year

QCOSTARICA - At 12:01 am this Wednesday, fuels will be more expensive, as the third price hike of the year takes effect. The increase in...

IMF sets its clear requirements for Costa Rica

QCOSTARICA - The International Monetary Fund (IMF) finally said yes to the loan for almost US$1.78 billion and to the fiscal adjustment commitment proposed...

Vehicle Restrictions for March

QCOSTARICA - Due to an improvement in the epidemiological situation of the health emergency, starting March 1, the only daytime vehicular restrictions for the...

US Latin America Policy Won’t Change Much, New ‘Thaw’ With Cuba Can’t be Ruled Out,

Q REPORTS - U.S. President Joe Biden is expected to outline his vision of Washington's Latin America policy at the next Summit of the...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!

Log In

Forgot password?

Forgot password?

Enter your account data and we will send you a link to reset your password.

Your password reset link appears to be invalid or expired.

Log in

Privacy Policy

Add to Collection

No Collections

Here you'll find all collections you've created before.